Connect with us


Vaccine Monopolies Like Covids Make Global Vaccination Five Times More Expensive

Vaccination monopolies are driving up the cost of vaccinating the entire world against Covid-19, according to a new study.
According to campaigners from the Peoples Vaccine Alliance, the cost of providing vaccines on a worldwide scale might be at least five times cheaper if pharmaceutical firms didn’t profit from their monopolies on coronavirus vaccines.
According to one estimate, the NHS might have saved at least PS1.8 billion if pharma prices were not inflated.
According to the Alliances investigation, companies like Pfizer/BioNTech and Moderna are charging governments as much as $41 billion (PS30 billion) more for vaccinations than the anticipated cost of manufacture.
This would suggest that the UK might have paid PS1.8 billion more for the Pfizer and Moderna vaccines than the cost of manufacture, equating to a bonus of over PS1000 for every NHS worker.
Pfizer/BioNTech and Moderna appear to have sold 90% of their vaccines to wealthier countries so far, while Covid-19 cases and death tolls continue to climb in developing countries.
Pfizer/BioNTech announced last week that a South African business would be licensed to fill and package 100 million medicines for usage in Africa.
Neither pharmaceutical corporation, on the other hand, has undertaken to fully transfer vaccine technology and know-how to any viable developing-country producer.
If they did this, worldwide supply could be boosted, lowering prices and potentially saving lives.
It appears that vaccines developed by Pfizer/BioNTech and Moderna with public support might be produced for as little as $1.20 per dosage.
Yet, the COVAX scheme, which was established to assist poorer nations in obtaining Covid vaccines, has been paying on average five times more.
Due to supply issues and more wealthy countries taking the majority of vaccine doses, eager to pay high rates for rapid immunizations, the COVAX plan has also struggled to secure enough vaccine doses at the requisite speed.
According to the Alliance, the money spent by COVAX to date may have been enough to properly vaccinate every person in Poor and Middle-income countries if it weren’t for pharmaceutical monopolies on vaccines constraining supplies and driving up prices.
Over 70 organizations make up the Peoples Vaccine Alliance.
The African Alliance, Oxfam, and UNAIDS are among them.
“Pharmaceutical industries are holding the world to ransom at a moment of unprecedented global crises,” said Anna Marriott, Oxfam’s Health Policy Manager.
Meanwhile, Winnie Byanyima, the Executive Director of UNAIDS, said: “Every single day, health workers are dying on the frontlines all across the world.”
In just two weeks, Uganda lost over fifty health workers.
A memory of a time when millions of people in impoverished countries died of HIV because the drugs that could save them were too expensive.
“Even as the Delta variety spreads, I see lives being spared in vaccinated countries, and I want the same for developing countries.”
Because Pharma monopolies and huge profits are put first, the mass of mankind is still fighting this brutal disease unprotected.” Several more wealthy countries have begun to re-distribute a fraction of their extra doses to poorer nations.
The Peoples Vaccine Alliance believes that this is insufficient, and is urging all governments to require that all competent manufacturers, particularly those in impoverished countries, be allowed to make Covid vaccines.
The Alliance also recommends that governments authorize a waiver of intellectual property regulations linked to Covid-19 technologies, as proposed by South Africa and India.
About 100 countries, including the United States and France, have endorsed the waiver, which has now entered formal negotiations at the World Trade Organization.
“Enabling developing nation manufacturers to produce vaccines is the fastest and surest approach to ramp up supply and substantially bring down prices,” said Maaza Seyoum of the African Alliance and Peoples Vaccine Alliance Africa.
We saw prices reduce by up to 99 percent when this was done for HIV therapy.
“What possible rationale do the governments of the United Kingdom, Germany, and the European Union have to disregard repeated pleas from poor nations to break vaccine monopolies that might drive up production while driving down price?” she continued, urging governments throughout the world to “put people before profits,” adding, “As long as the pharmaceutical giants have their monopolies on life-saving technolgies, people will continue to die.”

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Must See

More in News